Global $20+ Billion Radio Advertising Markets Analysis & Forecasts, 2015-2020, 2020-2025F, 2030F – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Radio Advertising Global Market Report 2021: COVID-19 Impact and Recovery to 2030” report has been added to ResearchAndMarkets.com’s offering.

The global radio market is expected to grow from $17.41 billion in 2020 to $18.47 billion in 2021 at a compound annual growth rate (CAGR) of 6.1%.

Major players in the radio advertising market are Sirius XM Radio Inc., iHeartMedia Inc., Entercom Communications Corp., Cumulus Media Inc., National Public Radio Inc., Strategic Media Inc., The Radio Agency, Jacob Tyler, Sid Lee, and Citizen Group.

The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $20.32 billion in 2025 at a CAGR of 2.4%.

The radio advertising market consists of the sales of advertising services and related goods by entities (organizations, sole traders and partnerships) that plan, develop, create and manage advertisement and promotional activities on the radio. Only goods and services traded between entities or sold to end consumers are included.

The radio advertising market covered in this report is segmented by type into traditional radio advertising; terrestrial radio broadcast advertising; terrestrial radio online advertising; satellite radio advertising and by industry application into BFSI; consumer goods and retail; government and public sector; IT and telecom; healthcare; media and entertainment.

In February 2019, iHeartMedia, an American mass media corporation, announced its acquisition with Radiojar Information Technology S.A for an undisclosed amount. With the acquisition of Radiojar Information Technology S.A, iHeartMedia plans to leverage Radiojar’s tools to coherently associate with the seamless elements of broadcast radio and transition these skillfully produced listening experiences into any audio platforms including music streaming and podcasts, delivering high-quality audio experiences more effectively and efficiently. Radiojar Information Technology S.A is a company that provides online radio management and streaming solutions.

Cost-effective routes of advertisement for big and small companies are expected to drive the demand for the radio advertising market. Although newer advertising platforms such as the internet and other digital media are gaining traction in the advertising market, radio still represents a powerful advertising medium due to its high cost-effectiveness.

For smaller markets, companies spend about $900 a week for a 30-second ad schedule and around $8,000 a week in bigger markets such as Sydney. On average, companies pay around $20 to reach 1,000 listeners during peak times of the day and close to $10 or $15 during off-peak hours. Therefore, the cost-effective routes of advertisement are predicted to fuel the demand for the radio advertising market.

A decrease in radio ad spending is likely to limit the growth of the radio advertising market. A decline in ad spending on traditional channels is part of a long-standing trend. The companies are investigating alternative business models and evaluating innovative emerging technologies such as online fixed programmatic display and mobile video that provide consumers with instant access to the content.

However, the pandemic has caused a significant decline in radio ad spending by several industries due to social distancing, containment restrictions, and closure of industries and other social activities.

Key Topics Covered:

1. Executive Summary

2. Radio Advertising Market Characteristics

3. Radio Advertising Market Trends and Strategies

4. Impact of COVID-19 on Radio Advertising

5. Radio Advertising Market Size and Growth

5.1. Global Radio Advertising Historic Market, 2015-2020, $ Billion

5.1.1. Drivers of the Market

5.1.2. Restraints on the Market

5.2. Global Radio Advertising Forecast Market, 2020-2025F, 2030F, $ Billion

5.2.1. Drivers of the Market

5.2.2. Restraints on the Market

6. Radio Advertising Market Segmentation

6.1. Global Radio Advertising Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

• Traditional Radio Advertising
• Terrestrial Radio Broadcast Advertising
• Terrestrial Radio Online Advertising
• Satellite Radio Advertising

6.2. Global Radio Advertising Market, Segmentation by Industry Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

• BFSI
• Consumer Goods and Retail
• Government and Public Sector
• IT and Telecom
• Healthcare
• Media and Entertainment

7. Radio Advertising Market Regional and Country Analysis

7.1. Global Radio Advertising Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

7.2. Global Radio Advertising Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

Companies Mentioned

• Sirius XM Radio Inc.
• iHeartMedia Inc.
• Entercom Communications Corp.
• Cumulus Media Inc.
• National Public Radio Inc.
• Strategic Media Inc.
• The Radio Agency
• Jacob Tyler
• Sid Lee
• Citizen Group
• Gumas
• Division of Labor
• Kiosk
• Neff

For more information about this report visit https://www.researchandmarkets.com/r/hd811k

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